In a recent YouTube video, analyst Michael van de Poppe shared his view of Bitcoin reaching the $ 10,000 level in the near future. The analyst admits that there is a possibility of a fall, but he does not believe it is likely.
Bitcoin Moves Towards $ 10,000
Since recovering from the $ 9,100 region on June 16, Bitcoin has been changing between $ 9,250 and $ 9,400. Michael van de Poppe says in his video that Bitcoin has reached a higher low level so far, after less than $ 9,000.
According to the analyst, if we reach $ 9,590, then Bitcoin can continue moving towards $ 10,000 and there might be another consolidation at the point.
A Falling BTC View
Van de Poppe later took a close look at the chances of BTC falling. Theoretically, he admitted that it would be possible for Bitcoin to lose the $ 9,200 level.
In this case, the analyst explains that the market could be lower after a significant drop towards the $ 8,720 area and then a small rise to $ 9,000.
Rise in BTC
It’s not just analysts who are waiting for an uptrend in Bitcoin. Keith McCullough, founder and CEO of Hedge investment research company, tweeted that Bitcoin has been on an upward trend since it reached the $ 9,400 level.
BITCOIN: > $9400 again after last week's -1.6% correction – still Bullish TREND @Hedgeye
— Keith McCullough (@KeithMcCullough) June 22, 2020